Philippines Interest Rate Decision

PHP
Actual
6.50%
Forecast
6.50%
Previous
6.50%
Latest Release
May 16, 2024
Importance
Overview
The Monetary Policy Committee votes on where to set the overnight interest rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
A reading that is stronger than forecast is generally supportive (bullish) for the PHP , while a weaker than forecast reading is generally negative (bearish) for the PHP.
Historical Data
Release Date
Time
Actual
Forecast
Previous
May 16, 2024 12:30 6.50% 6.50%
6.50%
Apr 08, 2024 12:30 6.50% 6.50%
6.50%
Feb 15, 2024 12:30 6.50% 6.50%
6.50%
Dec 14, 2023 12:30 6.50% 6.50%
6.50%
Nov 16, 2023 12:30 6.50% 6.50%
6.50%
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  • Vivek Kumar @Vivek Kumar
    Please change this data.. The Philippine central bank held its benchmark interest rate steady on Thursday, as expected, citing strong domestic demand and with inflation on course to settle within this year and next year's target.. . The central bank left the overnight borrowing rate unchanged at 3.0 per cent, the level set by the monetary authority after it moved to an interest rate corridor (IRC) on June 3.. . Before the corridor was launched, the key overnight borrowing rate was 4.0 per cent. Policymakers fixed the corridor's width at 100 basis points, so the ceiling now is 3.5 per cent and the floor 2.5 per cent.. . The policy stance has been steady since October 2014.
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